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MILWAUKEE

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totheMIDAMERICA
COIN CONVENTION

MECCA CONVENTION
CENTER

225 Dealer Tables

Bourse and Hotel
Information:

Kevin Foley

P.O. Box 589
Milwaukee, Wl 53201

Ihc ccnlinel

Official Publication/Central States Numismatic Society

VOL. 44, NO. 2

SUMMER, 1996

In This Issue

FEATURES PAGE

President’s Message 3

Secretary’s Message 4

CSNS Board Minutes 11

ARTICLES

A Personal View of Ancient Coin Collecting

Leon A. Saryan, Ph.D 19

My Favorite Coin - A Gift from a New Zealand Family

Akio Lis, YN oq

NOTICES

Membership Applications
Future CSNS Convention Dates
Convention Photo Highlights . .
Show Calendar

Cznt^a[ <Statz:

cJ\amii.matic. zSocizttj

President

Vice President

Secretary-Treasurer

Immediate Past President

John W. Wilson

P.O. Box 27185, Milwaukee, WI 53227

Roger L. Winkelhake

P.O. Box 6071, Lincoln, NE 68506

Jerry Lebo

P.O. Box 44337, Indianapolis, IN 46244

317/889-4253

Kevin Foley

P.O. Box 589, Milwaukee, WI 53201

❖ ❖ ❖

BOARD OF GOVERNORS

Brian Fanton P.O. Box 81, Hiawatha, IA 52233-0081

Robert D. Hatfield 8728 Huron, Taylor, MI 48180

Jack D. Huggins, Jr 103 Powder Mill Rd„ Belleville, IL 62223

Kurt R. Krueger P.O. Box 275, Iola, WI 54945

Robert R. Kutcher 421 1 Locust St., Lincoln, NE68516

Ray Lockwood 2075 E. Bocock Rd., Marion, IN 46952

Paul Padget 716 W. Wyoming Ave., Cincinnati, OH 45215

Edward W. Rothberg P.O. Box 606, Moorhead, MN 56560

Leon Thornton P.O. Box N, Eminence, MO 65466

Harry Tileston 901 Farmingham Rd., Louisville, KY 40243

❖ ❖ ❖

Editors of The Centinel Jim and Karen Jach

P.O. Box 21766, Milwaukee, WI 53221

414/281-4687

Advertising Jim and Karen Jach

P.O. Box 21766, Milwaukee, WI 53221

414/281-4687

Legal Counsel William Mross

P.O. Box 21, Racine, WI 53401

Send:

Changes of address to:

Articles for The Centinel to:

Advertising inquiries and copy to:

The Secretary
....The Editors
....The Editors

Presidential Commentary

John Wilson

I was very honored and privileged to follow in the footsteps of many iamous
numismatists and become your President at the Kansas City, Missouri, 57th CSNS
Saturday night banquet. I sincerely want to thank immediate past President Kevin Foley
and the outgoing Board members for doing such an outstanding job the past two years.
During President Foley’s term we now have appeared to have solved the PNG Day
Thursday changeover to the regular CSNS show. Dealers who attend the CSNS
convention and have tables now have a set-up on Thursday from about 3:00 P.M. to 9:00
P.M. When past President Foley took office he opened up our Board meetings to the
membership. 1 have also announced that the Board meetings are open to the membership
(except contract negotiations and mediation cases). Another important decision made in
Kansas City was that any change to our Constitution and By-Laws will have to be voted
on by the entire membership by ballot. In the past, these important changes were made
by only a few members of the CSNS, at a Saturday afternoon - Spring Convention,
General Membership Meeting.

I also want to thank the approximate 50% of the membership for voting in the last
election. The Vice President position was won by only three votes. Thanks to everyone
who ran for the Board (successful and unsuccessful candidates). I look forward to
working with all of you during the next two years. I also want to thank the new members
of the Board for accepting their committee assignments. A special thanks to award
winning editors Karen and Jim Jach for once again accepting the position of “The
Centinel” Editors; and also Attorney William Mross for accepting the position of Legal
Counsel. Jerry Lebo, our hard working Secretary / Treasurer, is also to be commended
for all his tireless work and dedication to the CSNS. All of your dedication to the CSNS
is highly appreciated.

On behalf of the entire CSNS Board and membership 1 want to personally thank the
members of the Johnson County Numismatic Society for hosting the 57th Central States
Numismatic Society Convention, in Kansas City, Missouri. General Chairman Ralph
Hardman and his hard working Committee Chairs (and assistants) put on another very
successful convention. Kansas City has been the site for many Central States
Conventions and this is just another in a long run of successful coin conventions. A
special huge thanks to Ray and Betty Lefman for handling the educational programs /
friendship luncheon and banquet. I was honored to be your guest at the luncheon.
Thanks to John Cain for doing the security ( I heard few complaints). I also want to
personally thank Dale Bain for handling the exhibits (with some help from Steve Carr).
Ken and Geri Hummell handled the registration and did a tremendous job. JCNS
President Mark K. McWherter and all the members of that society can be proud of the
work they accomplished for the 57th CSNS Coin Convention. Finally, thanks to all the
judges tor their many hours looking over the exhibits and selecting the category winners
and Best-in-Show.

The CSNS Board at our Fall Board meeting will be reevaluating the manner in which
our Spring Anniversary Conventions are organized and managed. Recognizing the
importance of consistency and predictability in our Anniversary Convention, the Board is
considering the concept of appointing permanent General and Bourse Chairmen under the
direct control ol the Board. This idea is presently under study and would be put in place

effective in 1998. Local numismatic organizations would continue to be encouraged to
participate as hosts. Fall Conventions, when held, would continue to function under the
local host management system which has prevailed in the past.

Central States Numismatic Society membership stands at about 1,900 members and
during my two year term I hope our great Society can grow to 2,300. I also want to hear
from you - the membership, and encourage you to send me (or any other Board member)
youi thoughts and comments regarding the CSNS. We are one of the greatest
numismatic Societies in the world, and I want to encourage all members to sign up at
least one new member during the next two years. I hope to see all of you at our Fall
Boaid meeting at Homewood, IL., or a coin show soon. Have a safe and happy summer.
Yours in numismatics.

John Wilson
President

PS Our next CSNS Board meeting will be in conjunction with the Illinois Numismatic
Association (ILNA) Coin Convention, September 6 - 8, 1996, in Homewood, IL. on
Friday, at 3:30 P.M.

PPS The Central States Numismatic Society Coin Convention will be in Milwaukee,
Wisconsin in the year 1998. Dates for the show are April 22 - 26, 1998. Our 1997 show
is scheduled lor Indianapolis, Indiana on April 10 - 13, 1997. Mark your calendar.

A Message from the Secretary

Jerry Lebo

Who says your vote doesn't matter? Our just concluded election of CSNS officers saw
Roger Winkelhake win the race for vice president by just three votes. The complete
election results appear elsewhere in this issue.

Our Kansas City convention featured many highlights, but the topper probably came
at the Saturday night banquet when former CSNS President Ray O. Lefman was honored
twice. First, he and wife Betty received an ANA Presidential Medal for service to the
hobby. ANA Vice President Anthony Swiatek made the presentation.

Then it was announced the CSNS Medal of Merit henceforth will be known as the Ray
O. Lefman Medal of Merit. This is CSNS' highest award. The first recipient of the medal
bearing Lefman's name was Florence Schook, a long-time CSNS board member who
also once served as ANA president and is well known for her work with Young
Numismatists. Ray, who lives in Kansas City, held the unofficial title of "Mr. Central
States" for a number of years. (Still does.)

There were a number of familiar faces in the KC crowd, including my predecessor as
secretary-treasurer, Bob Douglas. He was joined by better-half Marilyn, who I thank for
briefing me on the possible pitfalls associated with operating a CSNS hospitality room.

Former CSNS president Marjorie Hendershott was in attendance, as was hubby Bob.
Two former CSNS presidents were actively involved in operating the convention: Ralph
Hardman was general chairman, while John Cain was in charge ol security.

The KC bourse numbered nearly 240 dealer booths. It also marked a revised format
for PNG Day, which gave PNG dealers a Wednesday evening set-up but shortened their
Thursday operation to allow more time for the CSNS dealers to set up. Most everybody
seemed happy with the new arrangement, although there apparently are still a lew
dealers who don’t want PNG to be part of our convention.

The success of our conventions is dependent upon the volunteers who perform the
behind-the-scenes work. Ralph Hardman had a top-flight bunch in Kansas C lty. Besides
John Cain on security, I'd like to single out Ken and Geri Hummed, whose primary
function was to handle registration. Not only did they get people registered, but they
helped yours truly immeasurably with the collection of dues, late fees and signing up
new members. I paid them the highest compliment I could think of: Why don't you move

to Indianapolis?

Ken and Geri had plenty of helpers off and on at registration. It's worth mentioning
their names in this space: Norman Audas, Cathy Audas, Frank Louk, Dennis Comstock,
Casey Cain, John Zutz, Brian Wilson. Renee Wilson, Mike Olson, Jerry Germonprez,
Ted Riegel, Nan Ofenloch, Joe Ofenloch, Bill Jewett, Steve Carr, Kathy Carr, Albert
Hernandez, Ron Bozarth, Jim Harries, John Foret, Wynn Pelfrey and Dave Genter.

Dale Bain had things in order as exhibit chairman, capably assisted by Steve Carr.
Another unsung hero had to be Paul Hambelton, who was in the charge of properties,
aided by long time hobbyist Joe Scarlet. That translates into handling display cases and
lamps. Boy, is that a LOT OF WORK (I speak from experience.)

In addition to honors for Ray Lefman and Florence Schook, the Saturday night
banquet, emceed by Cliff Mishler of Krause Publications, also produced several other
awards.

Bob Kutcher was announced as the best-of-show exhibitor for his Denarii of
Septimius Severus.

The Elston G. Bradfield Literary Award for best article in the Centinel went to Leon
A. Saryan for his article on "Recent Chemical Studies on Ancient and Medieval
Armenian Coins using SEM-EDS." Second place went to Saul B. Needleman for his
article, "A Case of Mistaken Identity? Royal Succession on Coins in Spanish Colonial
Latin America."

The Daniel Parker Literary Award for best article written by a junior member went to
Akio Lis for his article, "Slovakian History in Coins."

Also in attendance at KC were some of the volunteers who will steer the 1997
convention in Indianapolis. Among them were General Chairman Howard Linville,
Bourse Chairman Marv Mericle, Exhibit Chairperson Fran Lockwood and hubby Ray,
who is handling publicity, among other things. Ray is beginning his second term on the
CSNS board. Also present were Rick and Letha Martin, who will be in charge of
registration at Indy. Letha's sponsoring signature appeared on several CSNS membership
applications I brought back to Indy from KC.

The Hummells also sent me a page from the Kansas City Star, in which the newspaper
gave a major spread to coin collecting, based on a reporter's visit to the convention.
Unfortunately, it wasn't printed until a week after our show ended. Consequently, it
didn't generate some needed additional attendance.

Thanks to ANA Governor J.T. Stanton for his $50 donation to our YN fund. Thanks
also to the CSNS member who donated $100 to the same fund. He chose, however, to
remain anonymous, and we will respect that request by not publishing his name in this
space.

I mentioned Bob Douglas earlier. Bob got me off and running as secretary- treasurer,
but there are two other individuals who I would like to single out for special thanks as
well. Both Kevin Foley, as president, and Harry Tileston, as a member of the Treasury
Oversight Committee, helped me from stumbling too much during my rookie term.

Thanks, fellows.

I bad-mouthed the Hotel Pontchartrain in Detroit sometime back after attending the
ANA convention that city. At the other end of the hotel spectrum is the host hotel in KC
- the Marriott. I found everybody courteous, helpful and ready and willing to be of
service. If a hotel is measured solely by its employees, the Marriott gets four stars.

Under the "I stand corrected department," Helen Sedo informs me that Bill Ewall and
Joe LeBlanc have taken over operation of the Young Numismatists' program at Michigan
State conventions. "They have not received the credit due them," Helen notes. She also
points out that various people donate prizes for the YN program, and several dealers
have paid for a YN luncheon.

Several prominent hobbyists died during the past year. The numismatic press provided
ample coverage on the passing of such luminaries as John J. Pittman and R.H. Norweb
Jr. We have a few other names to add to the list.

We note the passing earlier this year of Carl Shelby of Odon, Ind., who, at the time of
his death, was the oldest CSNS member, at least in terms of membership longevity. Carl
held membership number R 0022, having joined in 1943. Senior membership in CSNS
now belongs to Art and Paul Kagin, each of whom joined in 1946.

Another CSNS member, Frank Brazzell, of Terre Haute, Ind., died a week or so before
our Kansas City convention. Frank was well known for promoting elongated cents.

We also note the passing earlier this year of Joseph W. Barr, a former Indiana
congressman best known to collectors as the name behind "Barr Notes." Barr was
Secretary of the Treasury during the final days of the Lyndon Johnson administration.
Because he served only a month in office, many people thought currency bearing Barr's
signature would be rare. However, millions of "Barr Notes" were actually printed,
making them fairly common yet today.

Jerry Lebo
Secretary-Treasurer

In Memoriam

The Board and membership of the Society join in extending our heartfelt condolences
to the family and friends of the following member who passed away recently.

R 0022 Carl T. Shelby Odon, IN

R 1047 John J. Pittman Rochester, NY

R 1656 Marion John Konicki Milwaukee, WI

R 1880 Ruth Waldron Hill St. Louis, MO

R 1995 Frank Brazzell Terre Haute, IN

R 4034 Thomas V. Warfel Edwardsburg, MI

Membership Applications

The persons named below have applied for membership in the Society. Each applicant
will become a member in 30 days, unless a written objection to his 01 hei application is
received by the Secretary-Treasurer prior to that date.

REGULAR MEMBERS

7277 Robert M. Vassell Omaha, NE

7278 Jeff Davis Oklahoma City, OK

7279 Merrell C. Petty Eagle Lake, FL

7280 Richard Makely Hurley, NY

7281 Jo Anne Makely Hurley, NY

7282 Wallace Barr Houston, TX

7283 Allen Rowe Reno, NV

7284 Wayne Imbrogno Tempe, AZ

7285 Jay Woodside St. Louis, MO

7286 Joe Espinoza St. Louis, MO

7287 Bob Brandt St. Louis, MO

7288 J.L. Laws St. Louis, MO

7289 Steve Mileham St. Louis, MO

7291 Don McCulloch Spirit Lake, I A

7292 Dave Gourley Sidney, OH

7293 John Albanese Parsippany, NJ

7294 Mike Martinez Parsippany, NJ

7295 Ed Cardona Parsippany, NJ

7296 Scott Heller Parsippany, NJ

7297 John Gratacos Parsippany, NJ

7298 David M. Krassner North Haven, CT

7299 Deborah Simoneaux Phoenix, AZ

7300 William J. Jeffords Sioux City, IA

7302 George Warner Sheridan, WY

7303 Philip Hildenbrand Highlands Ranch, CO

7304 JeffEischen Meriden, IA

7307 Jay Krugjohann Forney, TX

7308 Michael L. Ellis Forney, TX

7309 Jim Dehne Forney, TX

7311 Dennis Nakano Encino, CA

7312 James Fehr Brookfield, CT

7313 Bill Yates Fort Worth, TX

7315 Tom Panichella Avenel, NJ

7316 Jeff Brant Fort Leavenworth, KS

7317 John Powell Fort Leavenworth, KS

7318 Richard Binette Jay, ME

7319 Larry Shepherd Cincinnati, OH

7320 Rob Lehmann Cincinnati, OH

7321 Robert Kevorkian Simsbury, CT

7322 Mark Hotz Brooklandville, MD

7323 Richard Grazier San Antonio, TX

7324 Charles F. Littlefield St. Louis, MO

7325

7326

7327

7328

7329

7330

7331

7332

7333

7335

7336

7339

7340

7341

7342

7343

7344

7345

7346

7347

7348

7349

7350

7351

7352

7353

7354

7355

7356

7357

7358

7359

7360

7361

7362

7364

7365

7366

7367

7368

7370

7371

7372

7373

7374

7375

7376

7377

7378

7379

Michael Francis

Joe Elliott

Dwayne Perry ....

Gary Minsey

Peter Tam

Arri Jacob

Frank L. Carter

Larry Melton

Dave Berg

Celeste Sferra ....

Bruce Dubin

Sara Siebert

David Siebert

Steve McCray

Sharon McCray

Tom Hawkins

Robert L. Ross
Martin Mansfield
Stephen Young
Don Whritehour
Robert Shalowitz

Jeff Bozarth

Jim Pietz

Dean Sherrill

David Griffiths
Frank Fidnarick
Victor Caroddo ....

Dan Peak

Ed Kintop

John T. Schott

Arturo Sanchez

Ed Ammon

Douglas Ammon

Larry Ford

Larry Kubik

Virgil D. Rose ....
April M. Ward

Matt Hansen

Richard A. Martin
Jim Wooldridge
Christopher Dunson
Polly Edwards Pittman
Michael S. Fey
Joann Johnbrier ....
Chris McCaugherty
Alfred Rossman

Gary Laramie

Nathan Winterfield . .
Leonard Wilson Jr.
Marty Rosser

Hamilton, OH

Richardson, TX

Montpelier, VA

. . .Overland Park, KS

Sacramento, CA

. . . .Los Alamitos, CA

San Gabriel, CA

Old Hickory, TN

Portersville, PA

Painesville, OH

Allentown, PA

Farmington, MO

Kansas City, MO

Houston, TX

. . . .San Clemente, CA

Denver, CO

Edina, MN

Santa Rosa, CA

Piscataway, NJ

. . .Independence, MO
. . .New Franklin, MO

Sisters, OR

... .Farmingdale, NY
. . .Franklin Sq. 1, NY

Parkville, MO

Edina, MN

Kansas City, MO

. . .Overland Park, KS
. . .Overland Park, KS
... .Kansas City, MO

St. Joseph, MO

Ankeny, IA

Red Cloud, NE

Carmel, IN

Lincoln, NE

Logansport, IN

Davenport, I A

Columbus, OH

Rochestger, NY

Randolph, NJ

Bowie, MD

Westmont, IL

Santa Clara, CA

. . .Salt Lake City, UT
Colorado Springs, CO

Lima, OH

Lafayette, OH

7380 Peter Yeung Montery Park, CA

7381 W. Scott Standafer Lutz, FL

7382 Janies Feehan Re<J Bank, NJ

7383 Mike Goss Houston, TX

7384 Steve Itkin Los Angeles, CA

7385 David Templin Maryville, TN

7386 Robert S. Hamby Oak Ridge, TN

7387 Glenn Peterson Knoxville, TN

7388 Michael Findlay Etobicske, ONT Canada

7389 Terri Wilkerson Santa Ana, CA

7391 Alan Weinberg Fair Oaks, CA

7392 Mike Pratali Spring Valley, CA

7393 Tony Seniunas Hamilton, ONT Canada

7394 Eric Steinberg Fort Lauderdale, FL

7395 Adrian Vanderaa Port Huron, MI

7396 Chuck Swinehart Cortland, OH

7397 Mark Stephenson Lexington, KY

7398 Todd Zuben Rockville, MD

7399 Ed Donnald Honga Path, SC

7400 Brian Wilson Overland Park, KS

7402 Joseph Campagnolo Bartlesville, OK

7403 David Olmstead Franktown, CO

7404 Stephen M. Carr Overland Park, KS

ASSOCIATE MEMBERS

7290 Martha Shull Camden, SC

7305 Art Thomas Springfield, MO

7310 Dennis Weathers Chicago, IL

7314 Laura Entlich Brooklyn, NY

7334 Kenneth Alterman El Paso, TX

7338 Mary J. Gibbs Council Bluffs, IA

JUNIOR MEMBERS

7301 Jessica Lebo Indianapolis, IN

7306 Donald Wilcox Jr Independence, MO

7337 Jane E. Roberts Rochester, NY

740 1 Renee Wilson Overland Park, KS

LIFE MEMBERS

606 Harold G Y oung Kokomo IN

607 James Helin Elgin IL

608 Terry T Armstrong Dayton OH

609 James S Moores Liberty MO

0 1 0 Lyn F. Knight Overland Park s

LOST MEMBERS

Can you help the secretary find them?

Michael Kelly
Harlie Lee Puckett

Key Largo, FL
. .Wichita, KS

CENTRAL STATES NUMISMATIC SOCIETY
1995 ANNUAL TREASURER'S REPORT

March 1, 1995 through February 29, 1996

INCOME

Dues

$ 12,964.50

Centinel

5,270.00

Convention

22,808.84

Auction

6,000.00

Interest

2,453.70

Accured Interest

2,357.70

Medals

1,089.00

Miscellaneous

115.00

Total:

53,508.74

EXPENSES

Secretary

$ 7,722.82

Postage

1,523.85

Board

8,852.82

Centinel

20,012.37

Current Coordinator

0.00

Future Coordinator

174.00

Legal

300.00

Insurance

2,094.70

Convention

1,461.08

Dues

958.00

Scholarships

643.00

Medals

0.00

Computer

1,855.93

Miscellaneous

3,837.28

Totals:

9,435.85

Opening balance:

25,286.21

+ Total Income:

53,058.74

- Total expenses:

49,435.85

- Transfer to LM acct

3,250.00

- Transfer to YN acct

19.12

- Accured Interest

2,357.70

Useable funds:

23,282.28

ASSETS:

1. General Savings Account (includes int pd)

7,407.77

2. Checking Account

2,697.13

3. LM interest

39.63

4. Certificate of Deposit

10,246.85

5. Certificate of Deposit

5,060.45

6. Certificate of Deposit

5,060.45

7. Useable funds (Nos. 1+2+3+4+5+6)

23,282.28

8. YN Account

673.64

9. Life Membership Accounts

73,428.79

10. Total assets: (7+8+9)

97,384.21

CSNS BOARD MEETING MINUTES

Kansas City, MO, April 26, 1996

President Kevin Foley called the meeting to order following an 8 a.m. breakfast. Roll
call showed all members present except Allen Karn and Pete Phillips (both excused.)

There was a moment of silence for deceased members.

The minutes of the previous meeting were accepted.

The treasurer's report was accepted. Secretary-Treasurer Jerry Lebo noted the
addition of an accrued interest item under income to reflect the interest earned on two
treasury instruments held by CSNS.

As secretary. Lebo said current membership is about 1,870, including about 300 who
have not renewed but who have until late summer to pay dues. He gave the president a
list of equipment in his possession and in the possession of the editors. He also
presented letters of thanks from the Byron Reed Historical Society of Omaha, Neb., and
from outgoing Governor Pete Phillips, who was absent because of illness.

Editor Jim Jach said the Centinel won first place in the 1995 ANA regional
publication contest. He said such honors help attract advertisers.

The Medal of Merit Committee reported the medal will be awarded at the Saturday
night banquet.

Historian Kurt Krueger said he is working on a CSNS history.

Convention Coordinator Paul Padget said the Kansas City committee has done a
good job, but at the same time we have been fortunate in avoiding major show
problems. He said CSNS should consider managing its own conventions. President
Foley said there is a need for candid discussion of this subject in executive session.

A report on the 1997 Indianapolis convention was presented by General Chairman
Howard Linville. He said key committees are in place and contracts signed. The board
again set the bourse fees at $400 for a regular booth and $650 for a corner booth. The
case rental was left at $12. Roger Winkelhake moved and Ron Horstman seconded that
lamp rental be increased from $10 to $12 at Indianapolis and at future shows. Approved.
Linville said there is also a firefighters' convention in Indianapolis at the same time, so
hotel reservations should be made early. The host hotel is the Embassy Suites. President
Foley said the Indianapolis group does a good job and expressed a vote of confidence.

Jim Jach said three Bradfield literary awards will be presented at the Saturday night
banquet.

Florence Schook and Roger Winkelhake nominated two juniors (Nikki Maines of
Indiana and Akio Lis of Nebraska) and one adult (John Beach of Nebraska) for ANA
summer seminar scholarships. Secretary Lebo noted board policy calls for no more than
two scholarships. Motion approved.

Incoming Governor Ed Rothberg said he heard complaints from some dealers about
their bourse table locations.

The election results were announced, (see list under general membership meeting.)

President Foley said he believes the new arrangement with the Professional
Numismatists Guild worked well and deserves a chance to function for several years.
Secretary Lebo noted a PNG page was added to the convention manual.

Legal Counsel Bill Mross said he is working on an auction contract with Heritage for
the next three years and expects to finalize an agreement soon.

Ron Horstman, the chairman-designate for a 1998 St. Louis convention, reported

having pioblems pinning down specific dates with the convention center. He
recommended not having a convention in St. Louis that year. President Foley and Vice
Piesident Wilson discussed moving up the Milwaukee convention from 1999 to 1998
Wilson said he tentatively has dates reserved. Paul Padget moved and Harry Tileston
seconded to authorize Wilson to schedule a 1998 convention in Milwaukee. Approved.

President Foley said there is a need to discuss future convention dates at the fall
board meeting. Several cities were mentioned, including Columbus, Cleveland and
Minneapolis.

Secretary Lebo noted the bylaws state the editor and legal counsel are not eligible to
i un tor goveinor. He asked if the prohibition should be extended to other offices, or if it
should be eliminated. The board sat mute.

Editor Jach said there was a problem getting biographies from some candidates for
publication in the Centinel. President Foley (a former editor) said it should be the
responsibility of each candidate to submit a biography.

Secretary Lebo noted there is no provision in the election rules for a tie vote.
President Foley directed Legal Counsel Mross to devise a method for dealing with a tie
vote.

Secretary Lebo questioned whether the board should be judge and jury in complaints
that might belong in a court of law, i.e., do we leave ourselves open to liability if a court
of law eventually rules contrary to a CSNS board decision? President Loley noted some
organizations will not act on a complaint unless a court decision already has been
rendered; that he, too, is concerned about legal ramifications. He also noted members
look to CSNS for some sort of justice rather than going to the expense of legal action.
He deferred the issue to the next board for creation of an ethics committee.

Secretary Lebo suggested an annual payment of $20 to board members who do not
turn in expenses, although they have spent some money on postage and phone calls
during the year. President Loley said it should be up to the individual to submit
expenses. No action.

Vice President Wilson said he will ask the incoming board if it wants to keep the
gold jackets or make a change. He said he is developing a new name plate to wear on
the jackets.

Diane Piret and Eloise Ullman of the Industry Council for Tangible Assets reported
on their organization's activities, including seeking sales tax exemptions for numismatic
items in various states. Leon Thornton moved and Llorence Schook seconded to give
ICTA $900 in dues and donation. Approved.

John Wilson pointed out the exhibit rules prohibit exhibitors from judging in other
adult categories in which they are not entered. He also said there is a problem getting
judges. John motioned that competitive exhibitors may judge in any category they, other
family members or relatives are not exhibiting in; that competitive exhibitors may not
judge best of show. Seconded by Harry Tileston. Approved.

John Wilson suggested providing educational videos for member clubs. However, it
was noted most clubs probably already have videos or access to them.

Legal Counsel Bill Mross said any savings would be minimal in seeking a change of
tax exemption status.

After some discussion, the travel mileage allowance was raised from 22 to 25 cents
per mile.

A request was read from former Governor Rich Hartzog, seeking CSNS member

addresses occasionally to help update his dealer mailing list. The board declined to
amend its standing policy that the CSNS membership list may not be used lor

commercial purposes.

Meeting adjourned.

CSNS General Membership Meeting Minutes
Kansas City, Mo. April 27, 1996

President Foley called the meeting to order at 3 p.m.

A list of deceased members was read: L 1 1 1 Arthur B Zoellner, Madison, WI, L 507
Elliot S Goldman, Tucson, AZ; R 0022 Carl Shelby (*) Odon, IN; R 1047 John J
Pittman, Rochester, NY; R 1175 Oscar H Dodson, Urbana, IL; R 1880 Ruth Waldron
Hill, St. Louis, MO; R 1656 Marion John Konicki, Milwaukee, WI; R 4034 Thomas V
Warfel, Edwardsburg, MI; R 4324 R H Norweb Jr., Cleveland, OH; R 6318 Michael J.
Druck, New York, NY: R 6345 Steve Koelbl, La Crosse, WI.

(*)At the time of his death, Carl Shelby held the lowest current regular membership
number, R-0022, having joined in 1943.

President Foley recognized the governors in attendance: John Wilson, Roger
Winkelhake, Ray Lockwood, Marv Mericle, Harry Tileston, Ron Horstman, Jim Kaczor
and Kurt Krueger; legal counsel Bill Mross, and incoming Governors Bob Kutcher and
Jack Huggins Jr.; and former Secretary-Treasurer Bob Douglas.

The minutes of the 1995 general membership meeting in Milwaukee were accepted
as published.

Secretary-Treasurer Jerry Lebo said the treasurer's report, to be published in the
Centinel, will show gross income of $53,508 and expenses of $49,435 for the fiscal year
ending Feb. 29.

President Foley noted the number of governors has been reduced from 13 to 10, then
read the election results:

President - John Wilson, 77 1 ; Vice President - Roger Winkelhake, 38 1 and Jim Jach.
378; Secretary-Treasurer - Jerry Lebo, 767;

Governor: Paul Padget - 587; Leon Thornton - 441; Ray Lockwood - 413; Kurt
Krueger - 403; Harry Tileston - 396; Jack Huggins Jr. - 380; Brian Fanton - 375; Bob
Hatfield - 349; Bob Kutcher - 345; Ed Rothberg - 338.

Unsuccessful: Marv Mericle - 307; James Glass - 306; Bill Brandimore - 304; Jim
Moores - 277.

Amendments to the constitution and bylaws were presented, changing from an oral
vote to a written ballot the amendment process affecting the voting rights of members.
Approved with one dissent.

ANA summer seminar scholarship recipients were announced as John Beach of
Lincoln, Neb., and juniors Nikki Maines of Bowling Green, Ind., and Akio Lis of
Omaha, Neb. Foley admonished members to call attention to the availability of these
scholarships when attending local club meetings.

President Foley complimented General Chairman Ralph Hardman for the Kansas
City convention.

Exhibit awards were presented.

U.S. Coins: 1. Don Hespe, Lincoln Matte Proof Cents; 2. Jack Huggins Jr., U.S.
Standing Liberty Quarters; 3. John Whitworth. The Making of the Lincoln Center and
Some of Its Errors.

Gold Coins: 1. Roland Finner, The St. Gaudens $20 Gold Piece; 2. Brian Wilson,
Gold Coins.

Coins Prior to 1500 AD: 1. Robert Kutcher, Denarii of Septimius Severus; 2. Matt
Hansen, Commemorative Coins of Philip I, the Arab.

Foreign Coins after 1500: 1. Roland Finner, The Modern Crowns of South Africa.

All Paper Money: 1. William Brandimore, National Bank Notes; 2. Raphael
Ellenbogen, Beautiful Backs of Large Size Currency; 3. (tie) Betty Finner, 1935 Silver
Certificates; Neil Shater, 1907 Panic Script Notes.

Medals and Tokens: 1. Jack Huggins Jr., 3 Presidential Inaugural Medals; 2. Alan
Bricker, Bronze Papal Medals of the Vatican; 3. Steven Drake, Numismatic Friends.

Miscellaneous: 1. Don Hespe, The Counterstamped Peace Dollar of 1978.

Junior: 1, Jim Carr, Why a Half Cent? 2. John Carr, P.B.S.

CSNS Board Meeting Minutes - Kansas City, Mo. April 28, 1996

President John Wilson called the meeting to order at 8:30 a.m. AH board members
present except Kevin Foley, Leon Thornton, Bill Mross (all excused) and Robert
Hatfield (unexcused.)

The president announced the following committees:

Linance: Tileston, Huggins: Treasury Oversight: Tileston, Huggins; Editors and
Advertising: Jachs; Medal of Merit: Foley, Wilson, Winkelhake; Historian: Krueger,
Finner; Current Coordinator: Padget; Future Site Coordinator: Thornton; Bradfield
Award: Jachs, Lebo; Exhibits and Judging: Huggins, Kutcher; Young Numismatists:
Winkelhake, Lockwood; Scholarship: Winkelhake, Lockwood; Legal Counsel: Mross;
Dealers: Padget, Rothberg, Foley; Convention Manual Revision: Lebo, Padget, Mross,
Foley, Wilson; Membership: Lebo, Lockwood, Fanton, Hatfield; Constitution and
Bylaws: Lebo, Mross; Auction: Lebo, Padget, Mross; Show Security: Padget, Thornton;
Ethics: Loley, Lebo, Mross, Winkelhake; Education: Fanton, Hatfield, Kutcher;
Message Center: Finners.

President Wilson thanked General Chairman Ralph Hardman for the Kansas City
convention. Hardman then had his committee personnel who were present introduce
themselves.

Governor Jack Huggins invited the board to conduct its fall meeting at Homewood,
111., in conjunction with the Illinois Numismatic Association's convention Sept. 6-8.
Accepted.

President Wilson said CSNS governors will continue to wear gold colored jackets;
that he is developing a new name plate to wear on the jackets.

Governor Brian Fanton said the CSNS stationery should list his middle initial, "E."

President Wilson said CSNS is getting 10,000 collector starter kits from ANA for
distribution at CSNS conventions and other shows; the only charge is storage, about
$700 to $800 for the year. Harry Tileston moved and Brian Fanton seconded to
authorize the expense. Approved.

Ed Rothberg questioned having board meetings during bourse hours because they
take him away from his dealer table. Secretary Jerry Lebo said other dealers who have
served on the board were able to work around the conflict. President Wilson said he will
set fall board meeting times later.

Meeting adjourned.

^ We Buy Sf#***^
Coin Collections!

Especially MORGAN SILVER DOLLARS!

We live in Montana, the treasure state, where silver dollars circulated freely
until 1965. Our collector base is large and at the present time we need to buy:

MORGAN SILVER DOLLARS:

• Complete sets (all grades)

• Proof (all grades)

• Original bags

• BU original rolls

• Hoards, accumulations or
individual coins

ALSO BUYING:

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• All U.S. Gold coins

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Half Dollar Sets

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If you have collected any of the above sets and are ready to sell, please give me a
call at 1-800-422-0787. Since 1974 we have been engaged ONLY in the business
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Looking forward to meeting you soon,
Sincerely yours,

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President

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Since

1976

29 South Tracy • P.O. Box 1270 • Bozeman, MT 59771
1-800-422-0787 • 406-586-4343

LM 2583

PNG Gives First Pennyboards to

CSNS YN’s

The Professional Numismatists Guild’s ambitious “Pennyboard” project to attract
thousands of young collectors to the hobby officially was launched with a brief
ceremony in Kansas City on April 25, PNG Day.

PNG Executive Director Robert Brueggeman, President Raymond N. Merena and
Secretary Harlan J. Berk symbolically handed out the first Pennyboard to ten-year-old
collector Eric Stephenson, grandson of Central States Numismatic Society Convention
Chairman Ralph Hardman.

Dozens of additional boards were given to Hardman and CSNS President Kevin Foley
to be distributed to children at the Young Numismatists meeting to be held April 27
during the Central States convention.

PNG President Merena explained, “The Pennyboard project is a nationwide
educational program to attract young people and adults to collecting. In a few weeks we
will announce details of a $50,000 college scholarship contest in conjunction with the
Pennyboards.”

The Pennyboard project was conceived by PNG Secretary Berk as a device to
encourage and assist young numismatists to collect Lincoln cents while introducing them
to other interesting U.S. coinage.

Similar to the 1930’s era coin boards but with a 1990’s design, one side of the PNG
Pennyboard has die-cut holes for holding 1959 - 1995 Lincoln/Memorial cents; the other
side has obverse and reverse color illustrations of 27 different 20th century type coins.

“The goal is to introduce the next generation of numismatists to collecting while
getting their parents or guardians actively involved, too,” said PNG Executive Director
Brueggeman.

During the next year, PNG member-dealers will give away free tens of thousands of
Pennyboards to students across the country through coin clubs, Scout troops, church
groups, community organizations, schools, and to individual youngsters who contact
PNG dealers requesting a board.

In September, PNG will start an essay contest with $50,000 in college scholarship
prize money. The contest rules will be announced this summer.

Founded in 1955, PNG is a non-profit association of rare coin and currency experts

with about 300
member-dealers in
the United States
and seven foreign
countries.

For additional
information about
the Pennyboards,
contact Robert
Brueggeman,
PNG Executive
Director, 3950
Concordia Lane,
Fallbrook, CA
92082. The phone

_ _ , number is

Taking part in the sybolic presentation of the first PNG Pennyboard at the 519-728-1300.
CSNS Kansas City Convention were (left to right) Kevin Foley, Robert
Brueggeman, young numismatist Eric Stephenson, Ralph Hardman,

Harlan J. Berk, and Raymond N. Merena.

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THE CITY OF AN AZ ARB US
(Allegorical figure on an old coin)

A Personal View of Ancient Coin

Collecting

Leon A. Saryan, Ph.D.

Beginnings

Most people start collecting coins by picking them out ol pocket change. At one time
or another, probably millions of people have saved Lincoln cents, Roosevelt dimes, or
the occasional Canadian or Mexican coin that might have wandered across the border.
After gaining some experience, new collectors branch out to silver dollars, paper money,
or foreign coins. This is approximately how I started out in coins more than 35 years ago.

Like many youngsters on the leading cusp
of the baby boom, I dabbled in all sorts ot
collecting. 1 was into stamps big time, and at
various stages in my "career" I accumulated
post cards, rocks and minerals, insects, shells,
chemistry stuff, sports cards (until I lost them
all flipping), and later books. I didn't have
much to spend, but as long as I could grow
my collections by trading with friends, it
hardly mattered. In those days, saving a
Washington quarter in a blue folder cost no
more than its face value. Silver pieces,
including early date Walking Liberty halves, Standing Liberty quarters, and Mercury
dimes, were readily available from daily circulation.

Unlike some kids my age, I didn't inherit any starter
collections of souvenir coins from Europe or the Far East. I lived
far enough from the border to minimize my access to coins of
Canada and Mexico. Nevertheless, I did make an effort to gather
foreign coins from circulation, and can recall some intriguing
finds, like an Australian silver six pence that I found in eighth
grade masquerading as a dime in the cafeteria drawer at school.

When I qualified for my Boy Scout coin collecting merit badge,
the advisor was quite impressed at the breadth of my collection
of common foreign coins gathered with negligible financial
outlay.

Ancient coins, on the other hand, seemed quite beyond my
reach. After all, where was I expected to find one? For better or worse, there was no way
that I would encounter one in pocket change or buried in my back yard. As a kid,
financial limitation was another factor. Despite their inaccessibility, however, I was
actually quite aware of their existence.

My earliest contact with ancient coins was the result of the large amount of time that I
used to spend with a book written by the famous French archaeologist, historian, and
numismatic scholar Jacques de Morgan. De Morgan had spent many years in the Near
East and was well acquainted with the antiquities and people of the region. Toward the
end of World War I, he was commissioned to write a history of Armenia, which he
completed and published in 1919, a few years before his death.

The Armenians had suffered terribly during World War I. During that conflict, the

THE TOWN OF
SAMOSATA AND
THE EUPHRATES
(Allegorical figure
on an old coin.)

Armenian civilian population ot Ottoman Turkey was subjected to tragic massacres and
depoitations that had left 1.5 million of their kin dead and another 1 million as refugees
in nearby lands. Turkey, whose government was responsible for organizing the killings,
was defeated along with its ally Germany in 1918. Between 1918 and 1921, the
Armenians of the Caucasus struggled to create and maintain an independent state. The
United States, Great Britain, and France had promised to resolve the Armenian question
during the peace negotiations. French support for Armenia's independence was crucial,
and de Morgan's book brought the panorama of Armenian history before French public
opinion.

De Morgan's The History of the Armenian People was
translated into English around 1949. At that time, it was
easily the best survey of Armenian history available in
English. Besides being an experienced archaeologist and
historian, de Morgan was also a talented artist, and he used
hundreds of original hand-drawn illustrations of coins,
artifacts, seals, maps, ruined buildings, and landscapes to
illustrate his work. In this single book, there must have
been at least three hundred different coin diagrams which
captured my interest.1

I was so fascinated by de Morgan that, as a nine year old kid, I used to take the book
to bed with me at night and read it with a flashlight under my blanket. I figured that there
was no way that I could ever own one of the coins pictured in that book, but at least I had
the pictures to look at and drool over.

When I was about twelve, the mother of Hank Skewis, a friend of mine, found a tiny
fifteenth or sixteenth century Spanish coin in her garden in northern Delaware. This sort
of discovery must happen quite frequently in Europe and might easily lead someone to
start a collection. But such occurrences are almost unheard of in the USA.

My first ancient coin was obtained around the same time by trading with a friend.
Randy Turner, one of my classmates at school, had a well worn 15 gram ancient copper

COIN OF KING
ARTAVAZD II
OF ARMENIA

coin that he was willing to trade. 1 can't recall any longer what I had to give away to get
the piece. For several years thereafter, that coin resided in a paper envelope in my
collection labelled "Ancient Coin from Randy Turner".

Unfortunately, the inscription on this coin was no longer legible. This greatly
complicated its identification, and neither Randy nor 1 had any idea what it was. Years
later, I spent at least a dozen hours poring through books in a library trying to identify it.
The obverse showed the portrait of a Roman emperor, the reverse a horse being led by a
figure with a tall helmet. I finally concluded that I owned a brass of Marcus Aurelius
struck around 166 AD at Antiochia ad Hippum in the Decapolis (present Jordan, near the
Sea of Galilee).2 Even in worn condition, this is a rather uncommon type, and is of
interest to collectors of Holy Land material.

Around the age of fifteen I was making regular excursions to the "Stamp Store"
(Delaware Stamp and Coin in downtown Wilmington). On one of these visits, I noticed
two small piles of medieval silver coins offered for sale under the glass. These were
described as Armenian trams of King Levon I and King Hetoum I, and were selling for
the impossible price of $6 each. I was excited to see Armenian coins, but I was puzzled
by their availability, since only rarely did this store offer any ancient or medieval coins
for sale. Since I couldn't afford the asking price, I tried to get my parents interested. It
would be fair to say that they saw my collecting hobbies as money out the window
("coin buying, not coin collecting" was how they described it).

In 1971, I clipped an ad from a New York newspaper placed by Harmer Rooke,
offering medieval Armenian coins for sale, now at $15 a piece. Once again I let the
opportunity slip by, and in so doing missed another chance to get started on my journey.

I have been actively collecting ancient and medieval coins for more than fifteen years,
but in many ways I feel as if I barely understand the subject. Although I am still a
learner, I hope that some of my experiences and insights, gathered here, will stimulate
uninitiated collectors to consider the pleasure and enjoyment this field has to offer.

Modern versus ancient coinage

If we spread two groups of coins, one ancient and the other modern, on a table,
numerous differences will be apparent at first glance. Ancient coins are not exactly
circular and even coins of the same type will vary from one another in numerous small

VIEW OF THE RAMPARTS AND CHIEF GATE OF THE CITY OF ANI

details. Unlike modern coins which are mass- produced by machines, ancient coins were
struck individually by hand: the dies were engraved by hand, the metal blanks (flans)
were made by hand, and the heated flans hammered one at a time between the dies to
make coins. Dies wore out or cracked quickly and had to be replaced fairly often. Thus,
ancient coins lack the uniformity (monotony?) of modern coins, and this must be counted
as one of their charms.

Those who are unfamiliar with ancients often
imagine them to be of great rarity and value. When I
show a cleaned ancient or medieval coin to such a
person, they are likely to react with a gasp of "where
did you get this?" as if the coin had somehow been
passed down hand to hand from my ancestors. Some
DOUBLE GOLDEN DAB.IC affirm knowingly that these are just modern
OF THE ACHAEMENIDS reproductions, not actual coins; real ones would only be

found in a museum. People are usually surprised to
learn that an authentic ancient coin may cost only a few dollars, and that most such coins
available today were recently discovered in buried hoards, or ferreted out of the
subsurface soil using a metal detector. If an ancient or medieval coin has some luster,
this is probably because it was cleaned after discovery to reveal its features. To reach a
collector in western Europe or the USA, the coin may have been smuggled secretly from
its site of discovery, changing hands several times in the process.

Since ancient coins were struck by hand, and since they typically reach our hands after
centuries of burial and exposure to the elements, they are not graded and priced as
rigorously as for US coins. Also, forming a collection of ancient coins calls for a large
input of individuality, personal choice and judgement, since there are no spaces to be
filled in an album, and no specific types that "must" be collected.

Starting out

To begin sensibly, prospective collectors need to decide what they wish to collect,
obtain published reference literature, locate a reliable dealer or dealers, and decide how
much is a reasonable amount to pay. Once a few coins have been gathered, questions of
authenticity, storage, cleaning, exact attribution, grading, and researching a coin's
historical and numismatic background inevitably arise.

The scope of early coinage is vast. Ancients were struck in several metals (gold,
electrum, silver, copper alloys, and rarely iron and nickel) over a period of more than
1000 years. Hundreds of different rulers and dozens of countries stretching from Spain to
India (or beyond if we include the coinage of China), each with its unique characteristics,
are represented. Many areas of ancient and medieval numismatics are uncharted, and
almost all are fertile areas for research and discovery.

A good recommendation for beginners is to obtain a broad
variety of inexpensive bronze and silver coins before
specializing in a particular area. No collector can hope to
assemble a complete ancient coin collection (there probably
is no such thing!). Later, some specialization is inevitable
and desirable; collectors who acquire an in-depth
understanding of a specialized area can easily cherry pick
rare treasures from the sale cases of informed dealers.

If I were asked to assemble a representative starting
collection of ten fairly inexpensive ancient and medieval

COIN ASCRIBED TO
THE ARMENIAN
RULERS OF ASIA
MINOR

(National French
Collection)

pieces, I would include the following types:

( 1 ) a silver fraction of Miletos oi the late 6th
century BC, one of the least expensive
coinage types representing the earliest
period of coinage, (2) a silver owl
tetradrachm of Athens (this may be a little
more expensive than the other coins listed
here), (3) a silver drachm of Alexander the

tetradrachma of Alexander the great Great, (4) a silver denarius ol the Roman

Republic, (5) a silver denarius of the Roman

Empire, (6) a bronze sestertius of the Roman Empire, (7) a silver drachm of Parthia
(ancient Iran), (8) a bronze or gold piece of the Byzantine Empire (Byzantine gold is the
least expensive form of early gold), (9) a silver coin of the Crusader period, and (10) a
silver dirham of the Arab caliphate. Even this list omits a great deal and allows for a
wide range of personal choice. Note that I haven't specified which Roman emperor,
which Parthian king, which Byzantine emperor, or which Crusader state, since there are
literally hundreds of types to select in these categories.

Books

Good numismatic references can be quite expensive, but there is no substitute for the
information they provide. If this is true for modern coinage, it is especially true for
earlier periods. The collector needs at least a few books with broad coverage, such as
David Sear's handbooks Greek Coins and Their Values and Roman Coins and Their
Values , which are impossible to do without. More general works which offer numismatic
and historic background, such as George Hill's Ancient Greek and Roman Coins: A
Handbook , should not be neglected. Investments in numismatic literature will pay for
themselves, and greatly enhance the collecting experience.

Dealers

Ancient coins are plentiful if one knows where to search for them. Trading with other
collectors is a possibility, as I learned when I first started, but sooner or later, the
collector will wish to purchase coins from a dealer. Many dealers specializing in ancients
can be contacted at shows or by looking through the advertisements in the numismatic
press.

Besides carrying merchandise in your price range and grade specifications, a dealer
should be able to offer realistic (not merely self-serving) guidance about attribution,
authentication, grading, and values. The relationship with a dealer should be pleasant and
educational, but just as can happen in modern coins, some experiences can be very
irritating. Keep in mind that coin collecting is supposed to fun, and avoid the jerks.

Spending Limits

When I first actively started on ancient coins, I set a per coin spending limit of about
$20. At this price level I could obtain a
variety of silver and bronze examples, some
in amazingly nice condition, from many
different countries and rulers. I purchased
several for under $10 each. My earliest
acquisitions were a learning experience,
which helped familiarize me with grading,
pricing, merchandising practices, counterfeit
detection, attribution, and other topics. tetradrachma of SELEUCUS I, NICATOR

Grading

Coins are, after all, metallic artifacts which have been buried in the ground for over a
thousand years. They have suffered, more or less, the effects of chemical attack and
encrustation by contact with soil, moisture, sea water, and noxious gases. Ancient coins
were struck by hand, one at a time. No two are exactly the same, and most carry some
imperfection that is the result of striking.

For these reasons, collectors need to adopt a flexible approach to grading and pricing
these coins. ' It is unrealistic to expect to find examples in uncirculated condition. Even if
one can afford the high cost for the few pristine specimens that are around, for most

types coins of this quality do not exist on the market.

The grade of an ancient or medieval coin should describe its total

strict level of circulation wear. Some features to

MAURICIUS TIBERIUS
CONSTANTINE and THEODOSIUS
(with countermark of Heradins I)

aspect, not just its
be evaluated are centering, tightness
(lack of porosity) of the metal,
absence of distracting flaws,
scratches, or damage, boldness of
strike, wear from circulation, wear of
the original coinage dies, and artistic
style and execution. Often, it boils
down to how much of the coin is still
there after two thousand years of
handling, burial, or corrosion. All of
these factors go into determining a
coin's desirability and value in the
market. I don't know of any slabbed
ancient coin and hopefully I will

never see one.

Mostly, the same descriptive terms used to grade modern coinage are also used for
ancients, and they have generally similar meanings: FDC (no wear, some luster),
extremely fine (minimal wear, no flaws), very fine (light to moderate wear), fine (wear
and/or corrosion), very good (considerable wear and/or corrosion), good (recognizable),
fair (barely recognizable), and poor. Because of the variability of ancients, however,
these terms are not sufficient to characterize a coin fully.

A silver coin described as VF should have light to moderate wear, decent centering
and strike, and no more than minor porosity or other defects. Design features and
inscriptions should be clearly visible. Any problems, such as scratches, test cuts, holes,
Ban cracks, etc. must be included in the description.

Pricing

Deciding how much is a reasonable amount to pay for an ancient or medieval coin is
probably the biggest hurdle that I had to overcome as a beginner, and it is still a hard
question. On more than one occasion I have
passed on a worthy coin because I was afraid to
pay too much. Knowing how much to pay comes
with study and experience.

Collectors need to keep in mind that there are
no red books, blue books, black books or green
books, no Trends, no Krause guides, and no "grey
sheet" for ancient or medieval coinage. Pricing of COIN OF THE ACHAEMENEAN
ancient coins, like grading, is much more SATRAP PHARNABA2US

subjective than for American coins. The available
guides, at best, give an approximate indication ot
market value, often long out-of-date, in one grade only.

Furthermore, there are no very reliable means of
tracking the market as a whole over an extended period
of time.

To get a feel for price levels, a collector should study
price lists and auction catalogs and examine as many
priced and graded coins as possible. One mail order
dealer I know provides comparative prices from
previous sales on his lists, making it easy to judge whether a coin is worth the asking
price.

Attribution and Research

Each and every ancient coin is potentially a subject for research and discovery. Using
a personal reference library, a new acquisition can be attributed as closely as possible to
its country, date, ruler, mint, metal, denomination, and inscription. This is not always
easy or straightforward to accomplish, since neither the average dealer nor the average
collector can afford to possess a complete reference library for this purpose. Keep in
mind that dealers can make errors in attribution, and these may be opportunities for the
astute buyer.

Once the basic research has revealed the coin’s identity, more effort may be needed to
understand the coin’s design, inscription, artistic execution, background, and history. For
many coins, this is almost uncharted territory, and presents possibilities of discovery.

Authenticity

Authenticity is sometimes perceived as a pitfall for the uninitiated, but it doesn't need
to be. Forged ancient coins definitely do exist, but many more genuine ancient coins are
available than fakes. Use caution when starting out; don't spend too much money until
you have looked at a lot of genuine coins and know what you are doing. Also, know
your dealer. If a coin can be shown to be false, an honest dealer will be happy to return
your money. Dealers depend on repeat business; by buying back a questionable coin, the
dealer retains your loyalty and can keep the coin as an example to educate other
customers and protect against future deceptions. I will happily purchase any forgeries
that pertain to my collecting specialties.

Coin cleaning

Although cleaning is considered a no-no for modern coins, it is obviously a must for
many ancients. Thousands of hopelessly dirt-encrusted ancient coins are unearthed each
year by impoverished peasants armed with metal detectors. If these were left uncleaned,
they would be unidentifiable and hence of minimal value.

Nevertheless, I am personally extremely reluctant to clean my coins with anything
stronger than soap and water. On rare occasions, more vigorous attention can help to
improve a coin's general experience or help to identify it. Collectors contemplating coin
cleaning are advised to first study carefully the available guides on the subject, and to
gain experience by experimenting on coins of low value.

Coin storage

I am not aware of any commercially-produced ancient coin album. This means that
collectors are free to design their own systems for storage and display, and in fact, must
do so. Two inch square paper envelopes are safe and inexpensive, and allow space for a

IMITATION OF
DENARIUS of AUGUSTUS
STRUCK IN
TRANSCAUCASIA

tail I y lengthy description. Sott plastic vinyl flips may exude contaminants that can
damage a coin, so these must be avoided. My preferred alternative, especially for thinner
coins, is the harder non-vinyl clear plastic flip, which makes it possible to see both faces
ot a coin at a glance. This type of flip is suitable for long-term coin storage.

Investing in ancient coins

Most collectors collect for the fun of it, to learn, or to entertain themselves. Monetary

gain is not the primary purpose of forming a collection. On the
other hand, none but the wealthiest collectors can afford to ignore
the resale value of their coins.

Investing in ancient coins for financial gain will not prove very
feasible for most collectors. Although the market is international,
it is subject to economic forces of supply and demand. Discovery
of a hoard can, by greatly augmenting the supply, depress the
value of coins in a portfolio.

Furthermore, in every transaction there is dealer markup to be
factored in. Investors who bought shares in a coin investment
fund, only to see their investment decline in value few years
afterward, learned this the hard way.The real profit that ancient
coins offer is their teaching value. They offer great potential for
research and discovery.

They can be a vehicle to learning about the past, about the great
‘civilizations and leaders which formed the basis of our collective
heritage, as well as early art, religion, alphabets and languages, and metallurgical
technology. Here, there is profit to be had without end, if one is only encouraged to dig it
out.

DRACHMA OF
ONJNES or
VONONES AS
KING OF PERSIA

Notes

1. All illustrations with this article are borrowed from Jacques de Morgan's The
History of the Armenian People (Boston: Hairenik Press, 1949). Jacques de Morgan was
also the author of Manuel de Numismatique Orientate de TAntiquite et du Moyen Age,
published in Paris (1923/1936).

2. David Sear, Roman Coins and Their Values (London: Seaby Publications, 1974),
no. 1373; H. A. Seaby, Greek Coins and Their Values (London: Seaby, 1966), no. 2194.

3. A useful guide to the grading of ancient and medieval coins may be found in Y. T.
Nercessian's Armenian Coins and Their Values (Los Angeles: Armenian Numismatic
Society, 1995), pp. 191-205. The principles apply broadly to early coins of numerous
origins.

Future CSNS Conventions

1997 April 10-13 Indianapolis, Indiana

Howard Li n vi lie 3 1 7/248- 1713

1998- April 22-26

1999— April 22-25

Milwaukee. Wisconsin
Milwaukee. Wisconsin

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Celebrating Over 50 Years of Friendly Service to Collectors ...

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Littleton's more than 150,000 customers
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We welcome the
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Please phone
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Or write to our
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Coin Company

Dept. CNS001
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Littleton, NH 0356 1

BUYER PHONE: (603)444-1020
FAX: (603)444-3501
TELETYPE: Facts D97, CoinNet NH07

My Favorite Coin - A Gift from a
New Zealand Family

by Akio Lis, YN

One of my favorite coins is a 1912 Australian silver florin, a rare early coin in the
George V series. This valuable coin is also quite attractive and in a high grade. The
obverse, with a picture of King George V, shows minor wear with a lovely gold toning
on the edge. The reverse, picturing an Australian coat of arms with a shield between a
kangaroo and an emu, shows even less wear with light gold toning around the edge and a
small strip of darker gold toning at the bottom of the coin. This unusual pattern of toning
can be explained by a coin being stored in a drawer with the obverse side rubbing against
the drawer’s bottom, and the lower half of the reverse covered by paper. In fact, this coin
was an heirloom of a New Zealand family, living on a farm on the North Island, who had
stored the originally uncirculated coin in this manner from around 1912 until 1994.

For more than 75 years, this coin has been protected from harm and kept in this high
state of preservation. During this time, the people of New Zealand have seen four rulers
of Great Britain and the British empire, and peacefully obtained their full political rights
and independence from Britain. New Zealand has sent its soldiers and sailors to fight in
two world wars, and some soldiers to participate in ‘police actions’ in two countries
being invaded (South Korea and Vietnam). The isolation of this island nation, and its
relative lack of strategic importance was the primary factor in keeping its people from
attack by other nations.

Only during World War II was New Zealand faced with the potential of armed conflict
within its borders. Japanese forces had swept through Asia, and the Pacific Islands to the
North of New Zealand. Fortunately, the United States and its allies were able to stop the
advance of the Japanese forces before Australia or New Zealand were threatened with
invasion. Current governmental policies emphasize the neutrality of New Zealand,
further reducing its potential for being involved in armed violence, including terrorism.

This coin has also remained relatively unaffected by the harmful effects of many
environmental factors, such as industrial pollution, that have caused great amounts of
damage to other such works of art. New Zealand has been fortunate that its isolation
allows it to retain its relatively rural way of life in the face of the intense modernization
by the rest of the world. In addition, nuclear power has not been developed, while energy
from natural sources (i.e., geothermal, solar, wind) being exploited for electrical power.
The only potential for major pollution in these islands are the active volcanoes to be
found on both the North and South Islands. Fortunately, this form of pollution only
influences sites adjacent to them.

The leason that this coin is so special to me is that I received it as a present during a
homestay in New Zealand as part of a People-to-People student exchange in the summer
of 1994. I doubt if my homestay family knew the coin’s catalog value - I certainly didn't
until I got back to the United States. The coin’s real value, however, is in its history, and
especially the memories that it brings back to me about people I met (from the U.S., New

Zealand, and Australia), and experiences I had while visiting New Zealand and
Australia.

The evening I spent listening to the reminiscences of the grandmother of my homestay
famdy still provides me with vivid pictures of a life different than mine or my family’s.

My homestay family provided a unique glimpse into another culture, and way of life.
However, no matter how far another country is from us, the people still have the same
hopes and dreams, and often the same interests.

This coin will always remind me of a memorable trip, and a wonderful family who
decided to give me a special souvenir because I was a numismatist. It will remain a part
of my collection forever.

About the author:

Akio Lis is currently attending Millard West High School in Omaha, Nebraska. He is a member of the Omaha
Coin Club, ANA, NNA, CSNS, FUN, YNA, and CONECA. Recent publications have appeared in the Omaha
Coin Club Newsletter, NE Numismatic Association Newsletter, First Strike, Errorscope, and The Centinel. His
numismatic interests include both foreign and US currency, coins, tokens, and medals.

NOTE TO CLUB OFFICIALS

Interested in hosting a future CSNS Convention? It is not too
early to begin thinking of the future! Submit your letter of
invitation to the CSNS Secretary-Treasurer at your earliest
convenience. Your request will receive the prompt attention of
the Officers and Board of Governors.

Enriching coin collecting through knowledge."

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I mm

NENfl

AMAZING HOARD OF ANCIENT
ROMAN DENARI

Due to a fortunate purchase by the Jonathan K. Kern Co. ancient department we can
now offer again our very popular Roman Empire denari portrait gallery. These ancient
Roman silver denari (singular denarius) were struck during the height of the Roman
Empire from 69 to 235 AD. The Roman Empire stretched from Scotland to Arabia, from
Morocco to Poland, from Germany to Egypt, and the Mediterranean was known as the
“Roman Lake.” It was an empire like the world had never known and has not known
since. Dozens of aspiring generals and tyrants like Justinian, Charlemagne, Napoleon,
and Hitler tried and failed to recreate the Roman Empire. All roads lead to Rome. When
in Rome do as the Romans do. About every third word in the English language had its
start in Roman Latin. Liberty on U.S. coins is usually shown wearing or holding a
Liberty cap which the Romans used to designate a free person. The Mercury head
dime is named after the Roman messenger god. The fasces on the reverse is a symbol
of Roman justice. The Roman Empire was the birth culture of the Christian religion. All
one has to do is visit modern Rome now and look at the Colosseum built by Vespasian,
the triumphal arch of Titus, Trajan’s Column, and the Forum of Trajan. These are
2,000-year-old ruins which represent only a small fraction of the awe inspiring grandeur
of this amazing civilization.

The average weight is about 3.5 grams of good silver. They were hand struck with
the reverse die embedded in an “anvil” of log cross section and the obverse die was
held and struck with a hand sledge hammer. These silver jewels were struck in massive
quantities to fuel the economic needs of a vast thriving empire, and indeed as this
hoard demonstrates, the oldest denari in the hoard passed from hand to hand for over
125 years before being buried. They were struck by hand engraved dies by skilled
artists known as celators. The portraits of all the different Roman emperors and their
family members are like a portrait gallery of miniature silver busts, or like a precious
metal three dimensional photo album. The reverse dies were also carefully engraved,
usually to depict all the gods, goddesses, heroes, and nymphs of Roman mythology.
Other reverse commemorated military victories, religious or political events, or just plain
propaganda.

The silver denarius was also the power base by which Roman emperors maintained
the loyalty of their legions. These paid professional legionnaires, though proud to be
part of the Roman army, were just as happy serving a rival claimant to the Imperial
Purple if he happened to have a more generous war chest overflowing with denari. All
through the reigns of Nerva and all the other Adoptive emperors the standard pay of the
legionnaire was 300 denari a year.

Just by handling these treasures of the past one can almost hear the drums giving a
cadence to the tromp of the Legion’s advance and the trumpets signaling the charge
against the enemy lines! But after the battles are over and the paymaster has
distributed the denari to the surviving legions what happened then? For a denarius a

Roman could buy 12 large loaves of bread, or 24 small loaves. A serving of table wine
(probably watered, which was acceptable) cost an as, or 1/16 of a denarius. Vintage
wine cost 1/4 a denarius a serving. In the Holy Land an amphora of olive oil from
Galilee cost one denarius. A bunch of grapes or 10 figs cost an as, or 1/16 of a
denarius. An ox sold for 100 denari, and a calf 20 denari, and a ram 8 denari, and 5
sparrows cost 1/8 denarius. It could cost a trader 10,000 denari to lease a ship (galley).
A scribe, a highly educated man, earned 12 denari a week. He ate and drank for 4
denari a week, and his clothing also cost 4 denari a week (he must have dressed quite
well because a commoner could buy sackcloth clothing which would last years for only
4 denari).

THE ADOPTIVE EMPERORS:
COINAGE OF ROME’S ZENITH

The English historian Edward Gibbon termed the second century A.D. the “happiest
age in history.” Between 96 and 180 A.D., the Roman Empire was ruled by a series of
capable emperors. After the assassination in A.D. 96 of Domitian, the last of the Flavian
emperors, the Senate chose one of their own members, the elderly Nerva, to succeed
to the throne. To secure the support of the army, the new emperor adopted the general
Trajan as his son and heir in A.D. 97. This adoption set a precedent, for the next four
emperors — Trajan, Hadrian, Antoninus Pius, and Marcus Aurelius, would come to
the throne as the adoptive son of their predecessor. Under these “adoptive emperors,”
the Roman Empire would reach the zenith of its power and prosperity.

In A.D. 98, Trajan became emperor upon the death of Nerva. Under Trajan, the
Roman Empire underwent its last significant territorial expansion. After two campaigns
(A.D. 101-102 and 105-106), Trajan annexed the Kingdom of the Dacians (modern
Romania). In the Forum of Rome, there still stands the awe inspiring column of Trajan
depicting the military campaign against the Dacians in detail as over 2,500 figures spiral
upward around the 125 foot height. In A.D. 105, the Kingdom of the Nabataeans was
converted into the Roman province of Arabia Petraea. In A.D. 114, a dispute with
Parthia led Trajan to annex Armenia and invade Mesopotamia. In A.D. 116,
Mesopotamia was declared a Roman province. However, rebellions in the East,
including those of the Jews, forced Trajan to retreat. He died in A.D. 117 before he
could resume campaigning in the East. Before his death, Trajan named his adopted
son Hadrian as his heir.

The reign of Hadrian was one of consolidation. The new emperor gave up Trajan’s
eastern conquests— Armenia regained its former status as a Roman vassal state. Other
frontiers were strengthened. In Britain, the wall he built to defend against the Scottish
tribes is still to be seen. Hadrian spent most of his reign outside of Italy, touring the
provinces to see first-hand what were each territory’s needs. Hadrian married a grand
niece of Trajan’s named Sabina, but they had no children, so in A.D. 136, Hadrian

adopted a certain L. Ceionius Commodus, who took the name Aelius Caesar, as his
son and heir. However, the death of Aelius in A.D. 138 compelled Hadrian to
designate a new heir, Antoninus. In turn, Hadrian compelled Antoninus to adopt
Lucius Verus, the son of Aelius, and a nephew of Antoninus, Marcus Annius Verus,
renamed Marcus Aurelius. Hadrian died later that same year.

The reign of Antoninus Pius (A.D. 138-161) was notable chiefly for its tranquility,
although in Britain a new defensive line north of Hadrian’s Wall was built to keep the
Scottish tribes further at bay. His wife, Faustina Senior, died in 141 A.D., so the vast
majority of her coinage was commemorative in nature. Also notable was the long
apprenticeship of Marcus Aurelius, who was named Caesar in A.D. 139. He married a
daughter of Antoninus Pius and Faustina in 145 A.D. She is known to history as
Faustina Junior. By the time of the death of Antoninus in A.D. 161, Marcus was
thoroughly prepared to assume the burdens of office. As it turned out, they would prove
to be considerable.

Upon his accession, Marcus Aurelius elevated his adoptive brother, Lucius Verus,
to the position of co-emperor. Marcus, however, was clearly the supreme authority.
Lucius married the eldest daughter, Lucilla, of Marcus and Faustina Junior in 164
A.D. Marcus was to spend much of his reign on campaign. Invasions of German tribes
from the north and of Parthians from the east bedeviled the empire. Plague, brought
back from the east by the army in A.D. 166, swept the empire (a second wave of plague
carried Lucius Verus away in A.D. 169). Despite these shocks, Marcus was able to
restore order on the eastern frontier and was poised to annex territories on the northern
frontier at the time of his death A.D. 180. Marcus was succeeded by his son
Commodus, thus breaking the pattern of succession through adoption, and with the
accession, Rome’s greatest era came to an end.

Commodus proved to be a despot who became quite insane. Commodus thought
he was the god Hercules, and he is depicted as Hercules on a number of his coins. He
would enter the arena himself to fight gladiators and wild beasts. There were several
plots against him, one of which involved his sister Lucilla, whom he put to death.
Commodus’ wife Crispina was banished early in his reign and later executed.
Commodus was eventually assassinated Dec. 31, 192 A.D. and the Roman Empire
entered an era of anarchy.

5. Aelius, Caesar, 136-138 AD,
Fine $179.

7. Faustina Senior, died 141 AD,
VF $59.

6. Antoninus Pius, 138-161 AD,

VF $59.

8. Marcus Aurelius, 161-180 AD,

VF $69.

MAIL ORDER POLICIES

1 . All coins guaranteed as described. ANA
and common sense grading. Your
satisfaction guaranteed!

2. Fourteen day return privilege or approval
service can be arranged with proper
references.

3. Personal checks, VISA and MasterCard of
unknown customers must clear.
References may be required.

4. Kentucky residents add 6% sales tax.

5. All coins sent insured or registered!

Orders less than $200 please add $2.00
for postage and handling.

6. Most coins are one-of-a-kind. Second
choices appreciated.

7. Visits by appointment only.

SATISFACTION & AUTHENTICITY
GUARANTEED

Order a set of the 7 emperors
for only

$395

Or order a portrait gallery
of all 13 emperors and
families for only

$877

9. Faustina Junior, died 175 AD,
VF $59.

10. Lucius Verus, 161-169 AD,

VF $89.

1 1 . Lucilla, died 182 AD,
VF

$69.

12. Commodus, 177-192 AD,

VF $69.

13. Crispina, died 183 AD,

VF $79.

JONATHAN K. KERN CO.

441 South Ashland Avenue, Lexington, KY 40502
To order, call 606-269-1614 between 9 a.m. & 6 p.m. EST

Professional Numismatist • Bachelor of Arts in Numismatics

24-hour FAX only 606-266-7900

CHICAGO COIN COMPANY, INC.
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106 Market Street PO Box 729 Johnstown, PA 15907

HARRY BASS RESEARCH
FOUNDATION ANNOUNCES

NIP INDEXES ARE NOW AVAILABLE

The Harry W. Bass, Jr. Research Foundation was brought into existence in
December of 1991. The purpose of the Research Foundation is to keep intact in
perpetuity rare and very significant collections of U.S. Numismatics to the end that
they will be available to serious numismatists for purposes of education and
research.

The foundation announced in early February the availability of a set of electronic
indexes for numismatists, which can be downloaded through the Internet. Called
NIP, for the “Numismatic Indexes Project,” these eleven indexes provide any
student or researcher an instantaneous way of locating what the scholarship of the
past century has produced in major American numismatic periodicals. The indexes
are in ASCII form, so can be used by any computer operating system, and are made
available free of charge to those interested in using this tool of research.

The eleven indexes cover a wide range of numismatic scholarships over many
decades. From the American Numismatic Society they include: American Journal
of Numismatics 1866-1924; Museum Notes 1945-1988; American Journal of
Numismatics, Second Series, 1989-1995; Coinage of the Americas Conference
(COAC) 1984-1995; Numismatic Notes and Monographs 1921-1968; ANS
Proceedings 1878-1914. Five other periodicals are also included in NIP: The
Numismatist 1888-1995 (ANA); Numismatic Scrapbook Magazine 1935-1975
(Coin World); Numismatic Review 1943-1947 (Stack’s); Coin Collector’s Journal,
1875-1888; and Coin Collector's Journal, New Series 1934-1954. For information
on how to download them, subscribe at no charge via E-Mail to the mail discussion
group Numlndex-L by sending to: LISTSERV@NETCOM.COM This one line
message in the message body (no signature lines): SUBSCRIBE Numlndex-L.
For further information about the NIP project, please contact the address below, or
E-mail the HBRF care of either: Harry Bass HWBass@Computek.NET or Ed
Deane EdDeane@Computek.NET

The Foundation presently owns over eight hundred items which will be ol
significant interest to the scholar and student of United States Numismatics. The
present collection consists of over two hundred fifty different specimens ot large
size U.S. paper currency, together with over five hundred United States pattern,
experimental and trial pieces. The currency covers the period from the inception ot
U.S. currency at the beginning of the Civil War to the time it was withdrawn from
circulation during the 1920s, at which time it was replaced by smaller bills.

The “Pattern” collection consists of an outstanding representation of this area of
Numismatics which is so important to the researcher for a full understanding of the
evolution of American coinage. Many specimens are quite rare, and all are in
exemplary condition.

Persons interested in examining portions of the collections in pursuit ol their
numismatic research endeavors should contact the Foundation office at 8333
Douglas Ave., Suite 1400, Dallas, Texas, 75225, during normal office hours. Or
one may call (214) 696-0584 for more information.

WHITMAN®

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CENTRAL STATES NUMISMATIC SOCIETY j

Name

Address

City _____

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Date of Birth

(if under 18)

Member of the following numismatic organizations:

Signature of Sponsor CSNS No.

□ Regular Applicant over 18 years of age $8.00 per year

□ Associate Applicant $5.00 per year

□ Junior Applicant (Under 1 9) $1 .00 per year

□ Life Membership $125.00

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NOTE: The Society year begins on March 1st of each year.

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